Illinois Municipal Retirement Fund Boosts Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Illinois Municipal Retirement Fund boosted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,172 shares of the bank’s stock after buying an additional 1,573 shares during the period. Illinois Municipal Retirement Fund’s holdings in Brookline Bancorp were worth $536,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BRKL. Sterling Capital Management LLC increased its stake in Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock worth $33,000 after buying an additional 2,513 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in Brookline Bancorp during the 4th quarter worth approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Brookline Bancorp during the 4th quarter worth approximately $72,000. Focus Partners Wealth purchased a new stake in shares of Brookline Bancorp in the fourth quarter valued at approximately $121,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Brookline Bancorp in the fourth quarter valued at approximately $129,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Brookline Bancorp in a research report on Monday, May 19th. They issued a “hold” rating for the company.

Brookline Bancorp Price Performance

BRKL stock opened at $11.31 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $10.55 and a 200-day simple moving average of $11.06. The firm has a market capitalization of $1.01 billion, a PE ratio of 13.79 and a beta of 0.88. Brookline Bancorp, Inc. has a 1 year low of $8.35 and a 1 year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to analysts’ expectations of $91.38 million. Brookline Bancorp had a net margin of 11.22% and a return on equity of 6.32%. Equities research analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.135 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.77%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.85%.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.